{"id":356282,"date":"2022-02-12T07:00:00","date_gmt":"2022-02-12T14:00:00","guid":{"rendered":"https:\/\/www.creditrepair.com\/blog\/?p=356282"},"modified":"2022-04-20T16:26:45","modified_gmt":"2022-04-20T22:26:45","slug":"3-reasons-why-you-should-add-your-child-as-an-authorized-user","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/credit-card\/3-reasons-why-you-should-add-your-child-as-an-authorized-user\/","title":{"rendered":"3 Reasons to Add Your Child as An Authorized User"},"content":{"rendered":"\n
\"child<\/figure>\n\n\n\n

Adding your child as an authorized user on\nyour credit card can be an intimidating process.<\/p>\n\n\n\n

As an authorized user, your child will be able\nto make purchases with your credit card, but won’t suffer the consequences for\nmisusing the card. Instead, you will be the one who is held liable as the\nprimary cardholder. Basically, your child can get the benefits of using a\ncredit card without accumulating credit card debt. The only person responsible\nfor paying it is you.<\/p>\n\n\n\n

You may be wondering why you would even want\nto add your child as an authorized user since there is a high level of personal\nrisk. Fortunately, the pros can outweigh the cons if you play your cards right.\nHere are a few reasons why you should consider making your child an authorized\nuser:<\/p>\n\n\n\n

Great Teaching Opportunity<\/strong><\/h2>\n\n\n\n
\"parent<\/figure>\n\n\n\n

If you want to teach your child about credit\nand how to use a credit card, there really is no better way than by teaching\nthem with first-hand experience. And many parents have caught on to this\nteaching style. In fact, according to a 2017 T. Rowe Price Parents, Kids, and Money survey<\/a>,\napproximately 18 percent of children between 8-14 have used or use credit\ncards.  <\/p>\n\n\n\n

If you believe you can trust your child with\nthe responsibility of being an authorized user, then you will quickly find out\nthat making your child an authorized user can prepare them for the future.\nAfter all, the more children know about credit and credit card operations, the\nbetter off they will be when it’s time for them to get their own credit cards.<\/p>\n\n\n\n

How can you determine if your child is\nresponsible enough to handle being an authorized user? Here’s a list of\nquestions you can ask yourself before you take the first step:<\/p>\n\n\n\n